LABOUR MARKET SEES STRONG RECOVERY!
The latest CBI Labour Market update covers the period from June to August 2021, providing a snapshot of labour market activity during the reopening of the economy. The figures show continued signs of recovery in the labour market, with employment increasing, unemployment decreasing, and vacancies at a new record high.
Young people, who were particularly affected by the pandemic, saw a continued increase in the employment rate and decrease in the unemployment and inactivity rates. Real time Pay-As-You-Earn data for September 2021 also showed that the number of payrolled employees increased by 207,000 to 29.2 million, rising above the pre-pandemic level for the first time. This is partly flattered by changes in employment status from self-employed to employee.